Merry – Gag – Christmas
December 25th, 2010 - 9:17 pm
The next time you hear anyone brag that the Fed must have saved the economy (again), because the stock market is up 17 or whatever percent since Bernanke conjured up $600,000,000,000 out of thin air, just haul out this depressing and revealing little statistic.
Because in real terms, the stock market is up exactly bupkis.
And up the bupkis is exactly where you’re taking Bernanke’s Keynesian wet dreams.
Where in that link does it say that the stock market is up zero in real terms? It just talks about how commodities have been going up faster. Admittedly, it’s a pretty disturbing trend, but these markets are pretty volatile inherently, stocks underperforming commodities is a long way from stocks underperforming inflation.